Schultz Robert F. - 31 Dec 2025 Form 4 Insider Report for Midland States Bancorp, Inc. (MSBI)

Role: Director
Signature: /s/Schultz Robert F
Issuer symbol: MSBI
Transactions as of: 31 Dec 2025
Transactions value $: $36,470
Form type: 4
Filing time: 02 Jan 2026, 12:15:51 UTC
Previous filing: 01 Oct 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Schultz Robert F.	Director	1201 NETWORK CENTRE DR., EFFINGHAM	/s/Schultz Robert F	02 Jan 2026	0001526325

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MSBI	Common Stock						34,715	31 Dec 2025	Direct	F1
holding	MSBI	Common Stock						30,153	31 Dec 2025	Red Bird Investors, LLC	F2
holding	MSBI	Common Stock						37,846	31 Dec 2025	Summit Investors, LLP	F2
holding	MSBI	Common stock						200,030	31 Dec 2025	J.M. Schultz Investment, LLC	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MSBI	Common Share Equivalent	Award	$36,300	+2,245	+2.15%	$16.17	106,536	31 Dec 2025	Common Stock	2,245		Direct	F3, F4
transaction	MSBI	Common Share Equivalent	Award	$170	+8	+0.01%	$21.17	106,544	31 Dec 2025	Common Stock	8		Direct	F3, F5
holding	MSBI	Restricted Stock Unit						9,146	31 Dec 2025	Common Stock	9,146		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes holdings through a self-directed IRA or revocable grantor trust
F2	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose
F3	Each common stock equivalent is the economic equivalent of one share of common stock.
F4	Represents common share equivalents acquired by the reporting person in the DDCP pursuant to the reinvestment of dividends received during the quarter on common share equivalents held in the DDCP by the reporting person at the time such dividend was paid on the underlying shares. Common share equivalents received for dividend reinvestments fully vested on the transaction date listed above and become payable upon termination of service as a director.
F5	Represents common share equivalents acquired by the reporting person under the Issuers Directors Deferred Compensation Plan (DDCP) with respect to director fees deferred by the reporting person during the quarter, based upon the closing price of the underlying shares on the last day of the quarter. Each common share equivalent is the economic equivalent of one share of common stock. Common share equivalents received for deferred director fees fully vested on the transaction date listed above and become payable upon termination of service as a director.